German multinational engineering and electronics company Robert Bosch GmbH will resume its business in Iran under the brand name of “Bosch Tejarat Pars” private joint stock.
The announcement was made by a member of the electronics giant’s board of management, Uwe Raschke, in the official opening ceremony of Bosch company in Tehran.
“With an 80 million population and the median age of 28, Iran, the second largest market in the Middle East, is of particular importance to our company,” Raschke said.
Noting that his company is not pursuing the mere sales of its products in Iran, Raschke said the likes of China and Turkey are manufacturing our products and adding more jobs to their economy, thanks to the transfer of technology to their countries.
“But going through the same process in Iran needs up to 24 months. Fluctuations of exchange rates and inflation are the main hurdles in the way of foreign investment in Iran. We are hoping the Iranian government would take effective actions to tackle these two problems,” he concluded.
